Miami, FL – Retail trader Keith Gill, known as ‘Roaring Kitty,’ attracted nearly 600,000 viewers on his YouTube livestream to discuss his ongoing support for GameStop. Gill emphasized his faith in the company’s management, particularly CEO Ryan Cohen, as GameStop enters a transformation stage with its business. The stock closed down 39% to $28.22 per share during his livestream, experiencing multiple trading halts.
Despite the decline during the livestream, GameStop’s stock has surged over 200% this quarter alone after Gill’s return to social media following a three-year hiatus. Gill expressed optimism about Cohen’s potential to lead the company successfully but stressed that uncertainties remain. Cohen, the founder of Chewy, took over GameStop in September 2023.
Gill, sporting a fake head bandage and sunglasses, highlighted the unique position of GameStop due to the strong support from retail investors. He acknowledged the long-term nature of his investment approach, emphasizing the need to monitor the company’s progress over the years. The livestream also impacted other meme stocks like AMC Entertainment and Blackberry, prompting notable market movements.
GameStop’s latest financial report showed a decline in net sales and a net loss for the first quarter. Despite the decrease in sales, the retailer maintains a substantial amount of cash, cash equivalents, and marketable securities. The company did not provide immediate comments to FOX Business regarding the livestream or recent market activity.
As ‘Roaring Kitty’ continues to advocate for GameStop and engage with a large online following, the company’s future remains uncertain amid ongoing shifts in the retail trading landscape. Gill’s livestream marks another chapter in the saga of meme stocks and the influence of online communities on stock market dynamics. Investors and analysts will be closely watching to see how GameStop navigates these challenges and capitalizes on potential opportunities in the evolving market environment.